Twitter loses $5 billion in market value after Trump ban
When the markets opened this week, the two most anti-Trump social networks posted a marked decline. Twitter lost a massive $5 billion in market value after the company decided to permanently ban President Donald Trump from the platform.
Published: January 12, 2021, 8:31 am
On Monday, at one point, the company’s stock fell by 12 percent to $45,17 following Friday’s announcement that the President would be permanently suspended from Twitter.
The company exaggerated the threat posed by President Trump’s tweets, claiming they risked “further incitement of violence” in light of recent “horrific events” at the Capitol Building.
After the recent events of the Capitol, two social networks decided to sanction the American president by suspending his account more or less permanently. Twitter outright banned him from its platforms while Facebook silenced him indefinitely. In addition to the various heads of state around the world, the Stock Exchange also sanctioned these dictatorial maneuvers, since the stocks of the two social networks plummeted.
A columnist of Capital observed that Twitter showed a decline of 8 percent and Facebook of 2 percent on Monday, January 11 in the morning. By early evening, the first had slightly halted its fall by hovering around 7 percent and a share value of 47 dollars. The second fell by nearly 4 percent at the same time, with a share value of $256. The columnist of Capital warned that it would be necessary to carefully monitor “the psychological impact on the American indices of the fall in the price of these values”. Indeed, according to him, “anything that can disrupt investors’ perception of a short or medium term value can generate more volatility”.
After this new censorship operation on the part of Facebook and Twitter, many European officials have spoken out against the two digital giants. Chancellor Angela Merkel, through her spokesperson, spoke of a “problematic” situation.
In Berlin on Monday, government spokesman Steffen Seibert also denounced the permanent suspension of the outgoing US President on Twitter: “The fundamental right to freedom of expression is a fundamental right of elementary importance.” According to the dpa news agency, he said: “This fundamental right can be interfered with, but within the framework of the law and within the framework defined by the legislator – not according to the decision of the management of social media platforms.”
Admittedly, the operators of the social networks have a great responsibility that political communication is not “poisoned” by hatred and lies, warned Seibert on behalf of the Chancellor. However, they have complied with this in the past weeks and months by making notes on corresponding entries and comments.
In France, the Minister of the Economy even said he was “shocked” by this measure. Even fierce opponents of Donald Trump, leftists Jean-Luc Mélenchon and François Ruffin worried about the “control” that the GAFA exercised over “the public debate”.
In a statement released on Friday, a Twitter spokesperson had said: “After close review of recent Tweets from the @realDonaldTrump account and the context around them — specifically how they are being received and interpreted on and off Twitter — we have permanently suspended the account due to the risk of further incitements of violence.”
Facebook also followed Twitter’s lead by suspending Trump for at least the remainder of his presidency.
CEO Mark Zuckerberg issued statement maintaining that President Trump has “clearly demonstrated” his intent to use his remaining time in office to “undermine the peaceful and lawful transition of power to his elected successor, Joe Biden”.
Zuckerberg then accused the President of inciting unlawful actions: “The risks of allowing the President to continue to use our service during this period are simply too great.” Trump will be suspended “for at least the next two weeks until the peaceful transition of power is complete”.
President Trump has been accused of inciting violence at the January 6 rally, however, a video from the rally clearly shows the President explicitly calling for a “peaceful” gathering.
“I know that everyone here will soon be marching over to the Capitol building to PEACEFULLY and patriotically make your voices heard…” pic.twitter.com/reDtDRU0YO
— Caldron Pool (@CaldronPool) January 10, 2021
But it appears as if Twitter will continue its historic purge. On Monday, it escalated the ban of tens of thousands of conservative voices, with “steps taken to protect the conversation on our service from attempts to incite violence, organize attacks, and share deliberately misleading information about the election outcome”.
According to Twitter, “more than 70 000 accounts have been suspended” because these were “dedicated to the propagation” of a “conspiracy theory”. President Trump’s follower count represents 47 percent of Twitter’s daily active users.
Trump had 88 million followers on Twitter, the 6th most followed account. On Facebook he had over 33 million followers. His account averaged 34 tweets per day in 2020 − up from 21 in 2019.
All rights reserved. You have permission to quote freely from the articles provided that the source (www.freewestmedia.com) is given. Photos may not be used without our consent.
Consider donating to support our work
Help us to produce more articles like this. FreeWestMedia is depending on donations from our readers to keep going. With your help, we expose the mainstream fake news agenda.
Keep your language polite. Readers from many different countries visit and contribute to Free West Media and we must therefore obey the rules in, for example, Germany. Illegal content will be deleted.
If you have been approved to post comments without preview from FWM, you are responsible for violations of any law. This means that FWM may be forced to cooperate with authorities in a possible crime investigation.
If your comments are subject to preview by FWM, please be patient. We continually review comments but depending on the time of day it can take up to several hours before your comment is reviewed.
We reserve the right to delete comments that are offensive, contain slander or foul language, or are irrelevant to the discussion.
Ohio disaster: When hedge funds manage rail traffic
East PalestineAfter the derailment of a freight train loaded with highly toxic chemicals in the US state of Ohio, a devastating environmental catastrophe may now be imminent. The wagons burned for days, and a "controlled" explosion by the authorities released dangerous gases into the environment.
US President Biden orders ‘spy’ balloon to be shot down
WashingtonThe US President gave the order to shoot down China's "spy balloon". The balloon had caused US Secretary of State Blinken to cancel a trip to Beijing. In the meantime, a second balloon was sighted.
US is heading for a financial ‘catastrophe’ US Treasury Secretary warns
WashingtonOn January 19, 2023, the United States hit its debt ceiling of $31.4 trillion. The country faces a recession if it defaults on its debt, the US Treasury Secretary warned in an interview. Her warning underscored the danger of printing money.
Gun violence: More risk in Chicago and Philadelphia than Iraq, Afghanistan
Providence, Rhode IslandA striking statistic: young Americans are several times more likely to be injured by a gun in cities like Chicago and Philadelphia than they are while serving as a soldier in a foreign country.
Elon Musk, the first person in history to destroy $200 billion in a year
Never before in human history has a person lost as much money in one year as Elon Musk did in 2022. The Tesla and Twitter boss lost $200 billion last year. However, with his remaining $137 billion, he is still the second richest person in the world.
Extreme cold and winter storms sweep across US
More than a million households without electricity, thousands of canceled flights, temperatures in the double-digit minus range and already 41 fatalities: The US is being overwhelmed by an enormous cold wave.
Soros sponsors violent leftists and anti-police lobby as US crime surges
WashingtonThe mega-speculator and "philanthropist" George Soros remains true to himself – he has been sponsoring anti-police left-wing groups with billions of dollars.
FTX Founder Sam Bankman-Fried arrested after crypto billions go missing
NassauHe is no longer sitting in his fancy penthouse, but in a cell in the Bahamas: Sam Bankman-Fried (30), founder of the crypto company FTX, is said to be responsible for the theft of 37 billion euros. An interesting fact is that media in the EU have so far kept this crime thriller almost completely secret.
How Twitter helped Biden win the US presidency
WashingtonThe short message service Twitter massively influenced the US presidential election campaign two years ago in favor of the then candidate Joe Biden. The then incumbent Donald Trump ultimately lost the election. Internal e-mails that the new owner, Elon Musk, has now published on the short message service show how censorship worked on Twitter. The 51-year-old called it the “Twitter files”.
Alberta PM suspends cooperation with WEF
EdmontonThe newly elected Premier Danielle Smith of the province of Alberta in Canada has recently made several powerful statements against the globalist foundation World Economic Forum and its leader Klaus Schwab. She has also decided to cancel a strange consulting agreement that WEF had with the state.
No comments.
By submitting a comment you grant Free West Media a perpetual license to reproduce your words and name/web site in attribution. Inappropriate and irrelevant comments will be removed at an admin’s discretion. Your email is used for verification purposes only, it will never be shared.